Federated Hermes Inc. Has $1.34 Million Holdings in Halliburton (NYSE:HAL)

Federated Hermes Inc. grew its holdings in Halliburton (NYSE:HAL) by 7.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,719 shares of the oilfield services company’s stock after buying an additional 2,885 shares during the period. Federated Hermes Inc.’s holdings in Halliburton were worth $1,342,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in Halliburton in the 1st quarter valued at $26,000. Johnson Financial Group Inc. acquired a new position in shares of Halliburton in the fourth quarter valued at $33,000. Bruce G. Allen Investments LLC raised its position in shares of Halliburton by 274.9% in the second quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock valued at $38,000 after purchasing an additional 822 shares during the period. Crewe Advisors LLC acquired a new stake in shares of Halliburton during the 1st quarter worth about $46,000. Finally, Assetmark Inc. boosted its holdings in shares of Halliburton by 286.2% during the 4th quarter. Assetmark Inc. now owns 1,201 shares of the oilfield services company’s stock worth $43,000 after buying an additional 890 shares during the period. 85.23% of the stock is currently owned by institutional investors.

Halliburton Stock Performance

Halliburton stock opened at $29.47 on Friday. The stock has a market cap of $26.09 billion, a PE ratio of 10.20, a P/E/G ratio of 0.95 and a beta of 1.89. The company has a quick ratio of 1.54, a current ratio of 2.13 and a debt-to-equity ratio of 0.76. Halliburton has a 12-month low of $27.52 and a 12-month high of $43.85. The business’s 50-day moving average price is $31.48 and its two-hundred day moving average price is $34.84.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Friday, July 19th. The oilfield services company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.95 billion. Halliburton had a net margin of 11.61% and a return on equity of 29.97%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.77 EPS. As a group, analysts expect that Halliburton will post 3.14 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $0.68 dividend on an annualized basis and a yield of 2.31%. Halliburton’s dividend payout ratio is currently 23.53%.

Insiders Place Their Bets

In other news, EVP Van H. Beckwith sold 10,000 shares of Halliburton stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $36.75, for a total transaction of $367,500.00. Following the sale, the executive vice president now directly owns 273,908 shares of the company’s stock, valued at $10,066,119. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

HAL has been the subject of several research reports. UBS Group cut their price objective on shares of Halliburton from $41.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday. Benchmark reissued a “buy” rating and set a $42.00 price target on shares of Halliburton in a report on Monday, July 22nd. Piper Sandler decreased their price objective on Halliburton from $46.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Jefferies Financial Group dropped their target price on Halliburton from $50.00 to $47.00 and set a “buy” rating for the company in a report on Monday, July 29th. Finally, Johnson Rice upgraded shares of Halliburton to a “moderate buy” rating in a research note on Friday, July 19th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $43.17.

Halliburton Company Profile

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.